Delta posts big 1st Q loss

By Charles Edwards

Atlanta, ga – The grim financial news that Delta Airlines posted a major financial loss in the first quarter comes as executives from the Atlanta air carrier and Northwest take their merger PR campaign to Washington.

The airlines' CEOs will tout the merger before Congress tomorrow.

Even though the first quarter decline includes significant one-time items, posting a more than 6 billion dollar loss could strengthen their merger argument to lawmakers.

That's according to Theodore Bolema. Before joining Central Michigan University, Bolema was a trial attorney within the anti-trust division of the Justice Department.

He says airline execs could argue a merger is the best option as gas prices continue upward.

BOLEMA: Both Northwest and Delta have been in bankruptcy in the last few years and have emerged from it and with higher fuel costs I suspect we will see more airlines in bankruptcy.

The Congressional hearings also come as Delta CEO Richard Anderson hints fare increases are on the horizon.